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EU to bolster Egypt ties with billions of euros in funding

EU to bolster Egypt ties with billions of euros in funding

THE European Union announced a 7.4 billion euro ($8.06 billion) funding package and an upgraded relationship with Egypt, part of a push to stem migrant flows to Europe that has been criticised by rights groups. The agreement, which lifts the European Union's relationship with Egypt to a "strategic partnership", was announced as a delegation of leaders visited Cairo. It is designed to boost cooperation in areas including renewable energy, trade, and security while delivering grants, loans and other funding over the next three years to support Egypt's faltering economy. The proposed funding includes 5 billion euros in concessional loans and 1.8 billion euros…
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